Company at Center of Drug Price Storm Cuts Cost of Medicine

Turing Pharmaceuticals, the company that became a lightning rod for criticism over excessive price increases for older medicines, on Tuesday said it would cut the cost of its anti-infection drug to hospitals.

Privately-held Turing and its chief executive Martin Shkreli sparked outrage in September after it acquired the rights to a 62-year-old drug, Daraprim, and raised the price more than 5,000 percent to $750 a pill from $13.50.

The company said it will offer reductions of up to 50 percent off its previously announced price for hospitals, which handle about 80 percent of cases of toxoplasmosis encephalitis…

Read the rest of the story from our partners at NBC News.